Overview

• Asian markets showed mixed results, with Chinese stocks declining due to anticipation of a key fiscal stimulus announcement this weekend.
• The Bank of Korea cut its benchmark interest rate for the first time since 2020, aiming to stimulate economic growth after a GDP contraction.
• U.S. inflation data came in slightly higher than expected, affecting expectations for Federal Reserve interest rate cuts in November.
• Cryptocurrencies experienced volatility, with Bitcoin and Ethereum showing mixed performance amid inflation concerns.
• Geopolitical tensions rise as Israel considers its response to an Iranian missile attack, potentially impacting global financial markets.